https://www.taxtmi.com/highlights?id=65040 Revision u/s 263 - Capital gain on property of the respective HUFs or respective individual assessee's - Merely because land is divided, with a view to avoid family dispute, by the father between himself and his two sons, would not by itself make it a family property. No case, either on facts or in law is made out. To us, it is no more than a father dividing his property, self-acquired as well as that bequeathed to him by his father, between his two sons, also retaining a part for himself (5.45 acres). In short, the claim is without basis and wholly unproved; in fact, fatuous. - AT en-us Tue, 09 Aug 2022 11:54:07 +0530 Tue, 09 Aug 2022 11:54:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=65040 Revision u/s 263 - Capital gain on property of the respective HUFs or respective individual assessee's - Merely because land is divided, with a view to avoid family dispute, by the father between himself and his two sons, would not by itself make it a family property. No case, either on facts or in law is made out. To us, it is no more than a father dividing his property, self-acquired as well as that bequeathed to him by his father, between his two sons, also retaining a part for himself (5.45 acres). In short, the claim is without basis and wholly unproved; in fact, fatuous. - AT Highlights Income Tax Tue, 09 Aug 2022 11:54:07 +0530 https://www.taxtmi.com/highlights?id=65040